Empress Royalty provides an update on its investment portfolio


VANCOUVER, BC /ACCESSWIRE/November 15, 2021/ Empress Royalty Corp. (TSXV: EMPR) (OTCQB: EMPYF) (“Empress Royalty” or the “Society“) is pleased to provide an update on its investment portfolio and mining partners.

“The exciting progress made in each of our investments demonstrates Empress Royalty’s ability to invest in high-quality projects with strong management teams creating long-term value for our shareholders and the shareholders of our partner mining companies.” , said Alexandra Woodyer Sherron, CEO and President of Empress Royalty. “These project updates are the catalysts for Empress Royalty to achieve significant shareholder value and revenue in 2022.”

MONEY FLOW FROM TAHUEHUETO Construction on time and on budget

Altaley Mining Corp. (“Altaley”) continues to move Tahuehueto toward production and recently announced that construction is on schedule and on budget (see Altaley press release dated November 2, 2021). Altaley also recently announced that it has engaged MGA as an underground mining contractor. MGA is a well-known underground mining contractor with extensive experience in Mexico. Prior underground development at Tahuehueto provides approximately 75% of the first two years of material to be mined or “arrested inventory”, with the contractor completing underground development for 100% of the arrested inventory. This greatly reduces the risk of ramp-up and accelerates initial and eventual steady-state production, resulting in the production of silver by-products, which will be subject to Empress Royalty silver flow. Initial production from Tahuehueto is expected to be near the end of 2021 with ramp-up continuing through the first quarter of 2022. As noted by Altaley, contractors and construction have been working at the site since July 2021 and several visits of the site were carried out by Empress Royalty in 2020 and 2021. Please see the Altaleys website (www.altaleymining.com) for further details.

Picture 1. Construction in Tahuehueto

SIERRA ANTAPITE GOLD FLOW – Ongoing production expansion

Sierra Sun Group (“Sierra Sun”) reports that it is pursuing the continued expansion of operations at the Sierra Antapite Gold Mine. Proceeds from the Empress Royalty stream were used to continue plant expansion from 750 tonnes per day to 1,000 tonnes per day, to expand and improve the tailings storage facility, to withdraw payments and to further develop the underground mine. A site visit by a third-party engineering company was completed in March 2021 and Empress Royalty visited the site in September 2021. Empress Royalty receives weekly updates from Sierra Sun on the progress of the production expansion. Sierra Sun has continued to deliver gold to Empress Royalty since inception in August 2021. Please see the Sierra Sun Group website (www.sierrasungroup.com) for more details.

Picture 2. Sierra Antapite

MANICA GOLDEN ROYALTY – Construction in progress

Since closing the Manica royalty at the end of April 2021, Mutupa Mining Processing (“MMP”) has completed engineering and procurement and reports that construction is progressing well. Specifically, most of the earthworks have been completed, concrete has been poured for the plant, the CIL tanks have been fabricated, and construction of the tailings dam is complete. Several pieces of modular plant equipment have been fabricated and transported from South Africa to the site and are currently being installed. In addition, the process plant’s water storage tank and power supply are connected and available through a 40 mVA transformer. The mining contractor has been mobilized and preparations are underway for the start of mining. MMP says it expects to begin initial production in the first quarter of 2022. Empress conducted two site visits in 2021 through a third-party engineering company and receives weekly updates from management on the construction progress.

Picture 3. Building in Manica

PINOS GOLD AND SILVER ROYALTY – Closed private placement

Candelaria Mining Corp. (“Candelaria”) announced that it had closed its increased private placement for a total of C$8,441,770, which enabled Agnico Eagle to increase its ownership interest in Candelaria from a 9.9% interest to 19.9% ​​on a pre-diluted basis (see Candelaria press releases dated October 29, 2021). Proceeds from the expanded private placement will be used for exploration at Caballo Blanco, ongoing development of the Pinos project and for working capital. Candelaria continues to push the Pinos project forward and is currently in talks with potential backers. Empress Royalty conducted site visits in 2020 and 2021 and continues to receive updates from Candelaria. Please see the Candelaria website (www.candelariamining.com) for further details.

Picture 3. Building in Manica

ABOUT EMPRESS ROYALTY CORP.

Empress Royalty is a new royalty and streaming company focused on providing investors with a diversified portfolio of gold and silver investments. Since its IPO in December 2020, Empress Royalty has built a portfolio of 17 precious metals investments and actively invests in mining companies with development and production-stage projects that require additional non-dilutive capital. The Company has strategic partnerships with Endeavor Financial and Terra Capital which allow Empress Royalty not only to access global investment opportunities, but also to bring unique expertise in mining finance, deal structuring and access to capital markets. Empress Royalty looks forward to continuously creating shareholder value through proven royalty and streaming models.

ON BEHALF OF EMPRESS ROYALTY CORP.

By: Alexandra Woodyer Sherron, CEO and President

For more information, please visit our website at www.empressroyalty.com or contact Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains statements about Empress’s expectations regarding the alliance agreement that are forward-looking in nature and, therefore, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking words such as “expects”, “believes”, “anticipates”, “aims”, “plans” or “intends to or variations of these words. and phrases or statements indicating that certain actions, events, or results “will occur.” Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them, as actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include the failure of Empress Royalty or the decision not to pursue opportunities in the royalty industry. The forward-looking statements contained in this press release are made as of the date hereof, and Empress undertakes no obligation to publicly update or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on any forward-looking statements or information.

THE SOURCE: Empress Royalty Corp.

See the source version on accesswire.com:
https://www.accesswire.com/672689/Empress-Royalty-Provides-Update-on-Investment-Portfolio

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